Zhone Reports Q1 Revenue of $24.1 Million, Down 22%

Zhone Technologies reported Q1 revenue of was $24.1 million, down 22% compared with $31.0 million for the fourth quarter of 2008 and down 44% from the $43.0 million for the first quarter of 2008. Net loss for the first quarter of 2009 (GAAP) was $6.9 million or $0.05 per share compared with a net loss of $4.7 million or $0.03 per share for the fourth quarter of 2008, and a net loss of $0.9 million or $0.01 per share for the first quarter of 2008.


"The first quarter proved to be even more challenging because of the global economic difficulties," stated Mory Ejabat, Zhone's chief executive officer. "However, we are beginning to see signs of an improving environment and are encouraged by growing backlog and prospects for revenue growth throughout the remainder of the year."http://www.zhone.com/investors